Geospace Technologies Corp (GEOS) |
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Price: $12.4900
$-0.17
-1.343%
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Day's High:
| $12.95
| Week Perf:
| 3.39 %
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Day's Low: |
$ 12.47 |
30 Day Perf: |
3.74 % |
Volume (M): |
80 |
52 Wk High: |
$ 17.09 |
Volume (M$): |
$ 993 |
52 Wk Avg: |
$10.51 |
Open: |
$12.72 |
52 Wk Low: |
$5.92 |
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Market Capitalization (Millions $) |
168 |
Shares
Outstanding (Millions) |
13 |
Employees |
978 |
Revenues (TTM) (Millions $) |
142 |
Net Income (TTM) (Millions $) |
25 |
Cash Flow (TTM) (Millions $) |
8 |
Capital Exp. (TTM) (Millions $) |
17 |
Geospace Technologies Corp
We design and manufacture instruments and equipment used in the oil and gas
industry to acquire seismic data in order to locate, characterize and monitor
hydrocarbon producing reservoirs. We also design and manufacture non-seismic
products, including industrial products, offshore cables, thermal printing equipment
and film. We report and categorize our customers and products into two different
segments: Seismic and Non-Seismic.
Our seismic business segment accounts for the majority of our revenue. Geoscientists
use seismic data primarily in connection with the exploration, development and
production of oil and gas reserves to map potential and known hydrocarbon bearing
formations and the geologic structures that surround them. Our seismic product
lines currently consist of land and marine nodal data acquisition systems, permanent
land and seabed reservoir monitoring products and services, geophones and geophone
strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer
retrieval and steering devices and various other products. Our seismic products
are compatible with most major competitive seismic data acquisition systems
currently in use. We believe that our seismic products are among the most technologically
advanced instruments and equipment available for seismic data acquisition.
We report and categorize our sales and products into two business segments:
Seismic and Non-Seismic. Our Seismic product lines currently include land and
marine wireless data acquisition systems, seabed permanent reservoir monitoring
systems and services, geophones and geophone strings, hydrophones, leader wire,
connectors, telemetry cables, marine streamer retrieval and steering devices
and various other products. Our Non-Seismic product lines include thermal imaging
and industrial products. Frequently, we have a minor amount of Seismic product
sales to our Non-Seismic customers.
Our non-seismic businesses leverage upon our existing manufacturing facilities
and engineering capabilities. We have found that many of our seismic products,
with little or no modification, have direct application to industries beyond
those involved in oil and gas exploration and development. For example, our
customers utilize our borehole tools to monitor subsurface carbon dioxide injections
and for mine safety applications.
Our non-seismic products include thermal imaging products targeted at the commercial
graphics industry as well as various industrial products. Our industrial products
include (i) sensors and tools for vibration monitoring, mine safety application
and earthquake detection, (ii) cables for power and communication for the offshore
oil and gas and offshore construction industries, and (iii) water meter cables
and other specialty industrial cable and connector products.
Our long-term business strategy is focused on continued investment in research
and development, expansion of our manufacturing and engineering capacity, expansion
of our seismic equipment rental business, selective acquisitions, reinvestment
of profits and minimizing debt obligations.
Continue Investment in Research and Development – Historically, our growth
has been driven through our internal development of new products targeted at
the seismic industry. In past years, our seismic product innovations included
the introduction of borehole seismology tools, seabed permanent reservoir monitoring
systems and wireless data acquisition systems. These innovative technologies
are the result of our continuous investment in research and development initiatives,
even during difficult industry cycles when we experience a significant decline
in customer demand for our products. We believe our past growth is a direct
result of this strategy and we intend to continue such research and development
investments.
Attract and Retain Engineering Staff – Our engineering staff has been
key to our success, we intend to continue our tradition of retaining and attracting
engineering staff and providing appropriate compensation and benefits.
Expand Manufacturing and Engineering Capacity to Accommodate Future Growth –
Our new product innovations have led to significant revenue growth in previous
years. Since our initial public offering in 1997 and through fiscal year 2015,
we have expanded our manufacturing, warehousing, engineering and office space
from 99,000 square feet to 648,000 square feet. Early in fiscal year 2013, we
received a large order from Statoil to design and manufacture two seabed permanent
reservoir monitoring systems. This order required substantially all of our manufacturing
capacity and capabilities for a period of approximately 18 months, requiring
us to outsource many of our routine manufacturing activities and to turn away
potential customer orders for other products. Furthermore, we had no spare manufacturing
capacity to accommodate any other large order for a permanent reservoir monitoring
system, should one have occurred. We believe we are the world leader in the
design and manufacture of these systems. As such, we expect to receive future
orders for large-scale reservoir monitoring systems which may exceed the magnitude
of the Statoil Order, although the timing and frequency of such orders, if any,
is unknown. We are currently experiencing depressed industry conditions as a
result of lower crude oil prices and their impact upon capital spending in the
oil and gas industry worldwide. The resulting significant decline in seismic
product orders and, in particular, the lack of any orders for permanent reservoir
monitoring systems, have required us to defer our plans to expand our manufacturing
and engineering facilities until product demand, including demand for large
permanent reservoir monitoring systems, and factory capacity utilization return
to levels comparable to those we experienced during fiscal year 2013.
·
Expand our Seismic Equipment Rental Business – We have offered seismic
equipment to our customers on a rental basis for many years, originally through
our subsidiary in Canada. Following our introduction of new wireless data acquisition
technology in 2008, we began offering our newly introduced GSX systems for rent
in 2009, and at that time we initiated a rental fleet of 2,000 GSX channels.
At the conclusion of fiscal year 2015, our rental fleet contained 130,000 GSX
channels which are warehoused in North America, South America and Europe. Many
current owners of our GSX channels were initially introduced to the product
through a rental. We believe this rental strategy has contributed to the sale
of 331,000 GSX channels since its introduction in 2008. We have also expanded
this rental strategy to our marine OBX wireless system. At the conclusion of
fiscal year 2015, our rental fleet contained 4,400 OBX stations. While demand
has declined substantially for the rental of our GSX equipment due to the significant
underutilization of customer-owned land data acquisition systems, we expect
our OBX rental revenue to increase in fiscal year 2016 as a result of a recent
agreement executed with an international seismic contractor. We plan to meet
this demand by adding additional OBX stations to our rental fleet. We believe
our rental business creates opportunities for us to demonstrate the qualities
and benefits of new products like the GSX and OBX to potential customers without
requiring the customer to make a large upfront capital investment. As a result,
we will continue adding new product technologies to our rental fleet to meet
customer demand.
·
Selectively Pursue Acquisitions of Businesses with Technological and Engineering
Overlap – The seismic industry periodically experiences volatile business
cycles requiring us to rapidly increase and decrease our business activities
to meet the industry’s demand for our products. The seismic industry generally
offers equipment manufacturers like us limited visibility into new orders creating
challenges for us to manage our manufacturing capacity, workforce and working
capital. While our primary growth initiative is to expand our seismic product
offerings, we may also seek out other non-seismic business opportunities which
complement our existing products, engineering and manufacturing capabilities,
and company-wide culture. While we routinely evaluate both seismic and non-seismic
business acquisition opportunities, we may direct these efforts toward non-seismic
businesses in order to diversify our revenue base and expose us to different
markets with different business cycles.
·
Reinvest Profits and Minimize Debt Obligations – Our growth over the years
has resulted from the reinvestment of our cash profits back into engineering
projects, plant additions, rental fleet development and expansion, small niche
acquisitions and working capital expansion. While we are not opposed to moderate
amounts of short-term debt during favorable business cycles, we choose to minimize
our exposure to long-term debt obligations which, in our view, restrict our
ability to operate during periodic difficult business cycles in the seismic
industry similar to the current business environment. We believe this strategy
has allowed us to achieve higher revenue and profit growth than our peers, many
of whom have significant long-term debt burdens. We also believe that the value
of our common shares outstanding will be best served in the long-term by reinvesting
our cash profits back into the business. In this regard, we do not anticipate
paying any cash dividends in the foreseeable future, nor do we expect to initiate
a buy-back program to repurchase our common stock.
Company Address: 7007 Pinemont Houston 77040 TX
Company Phone Number: 986-4444 Stock Exchange / Ticker: NASDAQ GEOS
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Stock Performances by Major Competitors |
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Geospace Technologies Corp
Geospace Technologies Corp, a leading provider of seismic solutions, recently announced its positive financial performance for the fiscal interval ending December 31, 2023. The company reported a significant improvement in profitability, with earnings per share (EPS) turning positive at $0.94 compared to a loss of $-0.01 per share in the same period last year. This represents a remarkable increase of 188.52% in EPS from the prior financial reporting period. One of the key drivers of Geospace Technologies Corp's success was its robust revenue growth. The company achieved a substantial increase of 58.269% in revenue, reaching $49.24 million compared to $31.11 million in the same financial reporting period a year ago. Moreover, the company witnessed a sequential revenue surge of 68.432% from $29.23 million, showcasing its impressive growth trajectory.
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Management Changes
Published Thu, Dec 21 2023 9:30 PM UTC
In a monumental move within the energy exploration sector, Stephen Jumper, a seismic industry veteran and former Chairman of the Board, President, and CEO of Dawson Geophysical, has joined Geospace Technologies' esteemed Board of Directors. Geospace Technologies (NASDAQ: GEOS) is a leading provider of cutting-edge seismic solutions, and Jumper's appointment comes a...
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Geospace Technologies Corp
Geospace Technologies Corp Reports Positive Fourth Quarter Results and Promising Future Performance Houston, November 17, 2023 - Geospace Technologies Corp (NASDAQ: GEOS), a leading provider of scientific and technical instruments, released its financial results for the fourth quarter of 2023 and the fiscal year. The company's bottom-line turned positive at $0.33 per share, a significant improvement compared to a loss of $0.62 per share in the same period the previous year. This represents a growth of 35.75% from the preceding financial reporting period, where earnings per share stood at $0.24. The revenue for the financial fourth quarter of 2023 increased by 12.991% to $29.23 million, compared to $25.87 million in the same period a year ago. However, there was a sequential decline in revenue of -8.59% from $31.98 million in the previous quarter. Despite this decline, Geospace Technologies Corp showcased its ability to achieve a bottom-line of $4.438 million, showing remarkable improvement compared to a net deficit of $-8.040 million in the same financial reporting period a year ago.
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Geospace Technologies Corp
Geospace Technologies Corp, a company trading on the NASDAQ, has seen a positive trend in its shares over the past five days. The shares have gone up by 1.65%, bringing the year-to-date performance to an impressive 99.5%. Currently, the shares are trading 36.5% above their 52-week average. In terms of financial performance, Geospace Technologies Corp has made significant improvements. In the most recent fiscal period, the company's bottom line turned positive, with earnings of $0.24 per share. This is a substantial improvement compared to the previous year, where the company reported a loss of $-0.51 per share. However, there was a slight decrease of -31.43% in income from the previous reporting season, where earnings were $0.35 per share.
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Geospace Technologies Corp
Geospace Technologies Corp is a Scientific & Technical Instruments company that has recently undergone tremendous revenue growth, resulting in its profitability. As per the latest financial results, the company's revenue grew by an impressive 27.004 % to $31.37 million, and earnings per share were at $0.35, a significant improvement compared to the $-0.11 recorded in the second quarter of 2022. The company's net margin rose to 14.78%, and operating margin edged up to 13.95% in the January to March 31 2023 timeframe. Sequentially, EPS turned positive from $-0.01 per share, and revenue increased by 0.839 % from $31.11 million, which shows consistent growth in the company's performance. The company also recorded a net income of $4.637 million in the January to March 31 2023 timeframe, a significant improvement compared to the net shortfall of $-1.474 million in the same quarter a year ago. Geospace Technologies Corp has also highlighted its improving profit margins, which is a positive sign for investors. The company's return on equity (ROE) of -8.09% is not very impressive. However, within the Scientific & Technical Instruments industry, five other companies had a higher ROE. Despite this, the company's overall ranking for ROE has improved from 2904 to 1948 in the first quarter of 2023. The company's performance indicators reflect strong growth potential and a foundation for a positive future. Geospace Technologies Corp is expected to report its next financial results on August 09, 2023. Investors need to keep an eye on the company's performance indicators to make informed investment decisions. Geospace Technologies Corp is an experienced provider of innovative seismic technology solutions, which help clients to enhance their exploratory efforts, leading to successful outcomes. The company's core technology solution allows customers to leverage high-resolution seismic data processing techniques to gain in-depth insights into the earth's subsurface. Geospace Technologies' strategic product portfolio comprises solutions for data acquisition and analysis, data interpretation, and data visualization, providing a streamlined and integrated solution for clients. The company's proprietary technologies offer unique capabilities for oil and gas exploration, mineral exploration, subsurface imaging, and civil engineering applications. Geospace Technologies Corp has operations spread across the world, including North and South America, Asia Pacific, Europe, the Middle East, and Africa. The company's geographical diversification allows it to access various markets, mitigating its exposure to regional and market risks.
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Per Share |
Current |
Earnings (TTM) |
1.86 $ |
Revenues (TTM) |
10.54 $
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Cash Flow (TTM) |
0.56 $ |
Cash |
2.52 $
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Book Value |
10.87 $
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Dividend (TTM) |
0 $ |
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Per Share |
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Earnings (TTM) |
1.86 $
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Revenues (TTM) |
10.54 $ |
Cash Flow (TTM) |
0.56 $ |
Cash |
2.52 $
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Book Value |
10.87 $ |
Dividend (TTM) |
0 $ |
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